EPIC BATTLE

Aberdeen Asset Management, the largest listed fund manager in Europe, has challenged the decision to demand minimum alternative tax from foreign investors.

Five foreigner investors have already filed a case against the demand. The Bombay High Court is set to hear the case on May 6.

We’ll end up spending a lot more on the legal suit than the tax demand. If you don’t challenge, you can end up receiving a lot more.” — HUGH YOUNG, MD Asia, Aberdeen